Well, if that is Steve Peat, he's riding a custom frame that is actually larger than the stock large frame Santa Cruz offers. Because SC uses a much longer top tube on their larger bikes, the monocoque frame is much bigger and makes the bike look smaller. There is a video of some SC engineer talking about how Peat's frame looks the smallest, Minnaar's in the middle, and Bryceland's looks the largest, despite the actual frame sizes being the opposite.

 small frame, big guy

 is it just me, or does that bike look too small for him??